Daily Analysis of Stock Market – NIFTY – 03rd November 2020

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On Tuesday, The market had a gap up opening and remained in green for the whole session. At the closing, the market closed in the green. The market was very much volatile today, the Nifty index closed at 11,813.50, The Nifty bank index closed above and hold 25,682.80, and the Sensex settled above 40,261.13. The Nifty index gained around 144.35 points, The Nifty bank index gained around 790.30 points, and the Sensex gained 503.55 points in a single day.

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Today, the Nifty index opened at 11,734.45 went up to 11,836.20, and closed at 11,813.50, after making the low of 11,723.30. Nifty Bank index opened at 25,108.00 and stayed volatile between the high of  25,760.70 to the low of 25,085.70, and closed at 25,682.80.

Daily Analysis of Stock Market – NIFTY – 03rd November 2020 1

According to the Nifty Daily chart, Today the Nifty broke 11,680 levels, Now Nifty can go towards 11,800 to 11,900 levels Alternatively, If the Nifty breaks and sustain below 11,680 levels, then it might retest 11,600 to 11,500 levels.

NEWS HIGHLIGHTS

  • IIFL Finance profit jumps over two-fold to Rs 212 crore in the September quarter.
  • JSW Energy net profit remains almost flat at Rs 352 crore in the September quarter.
  • Flipkart acquires Mech Mocha’s IP, team to strengthen the gaming strategy.
  • Silver futures rise 0.51% to Rs 62,322 per kg on weaker dollar ahead of US election.
  • Godrej Properties Q2 consolidated net profit falls 78% to Rs 7.10 crore.
  • Sun Pharma Q2 earnings beat the Street as profit surges 70% to Rs 1,813 crore.
  • PNB plans to raise Rs 7,000 crore from QIP in December, credit growth to be less than 5%.
  • Yes Bank in talks with ARCs to sell NPAs worth over Rs 32,000 crore: Report.
  • Zydus Cadila files an investigational new drug application for COVID-19 treatment.

Trading zone for the Nifty index on 03rd November 2020

Upside Resistance:-  11,859, 11,904, 11,972.

Downside Support:-  11,746, 11,678, 11,633.

Nifty 50

AdvancesDeclines
3515

In the Nifty 50, 35 stocks traded in green and whereas only 15 were declined on 03rd November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
ICICI Bank6.32UPL-6.35
Hindalco5.27NTPC-3.64
SBI4.44Reliance-1.44
HDFC4.42Nestle-1.30
Power Grid Corp3.99HCL Tech-1.02

The most active value-wise stocks were Reliance, ICICI Bank, HDFC, HDFC Bank, Bajaj Finance, and the volume-wise were NTPC, SBI, ICICI Bank, Tata Motors, Reliance.

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Results To Be Declared Tomorrow
BASF India
HPCL
SBI
United Spirits
Apollo Tyres
Indian Hotels Co.
Jubilant LifeScience
Pidilite Inds.
Lupin
Adani Enterprises
Godrej Agrovet
Adani Green

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 03rd November 2020

FII (Cr.)DII (Cr.)
2274.4-1100.92

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